DislikedWEEKLY GBPJPY Fakeout with divergence. 1. Price makes a strong close above the HHR followed by two weeks where there is lack of momentum 2. Last week the bears have kicked in big time. The beob completely engulfs two previous bars and closes below the HHR 3. MACD divergence 4. Plenty of space I am going to enter when the market opens next week. {image}Ignored
This one has huge spatial concerns in my book as a weekly trade. Might still be tradable with a tighter stop based on a lower TF trigger bar all the way to the top of that consolidation box, but clearly as a weekly trade you're playing with ridiculously low levels of R:R unless you want to "hope" price will blow through that consolidation box completely and easily.
g.
I believe . . .